For the most part, I am looking for the Dollar to remain bullish. The more important issue is whether the start of the day could see a bearish pullback. I suspect not in USD/JPY - but USD/CHF does seem to have potential pullbacks before the Dollar begins to bloom. EUR/USD needs to see losses. I also find that GBP/USD developed a Wave -i- at the end of Friday and minor pullback. That we’re talking about the normal Asian preference for a limited range, it makes sense that we should wait for a pullback. However, the alternative is a break lower…
It’s just USD/JPY that appears to have a risk of direct gains – but perhaps it could just see an initial spindly range…
When looking at a Wave -a-/-iii- in EUR/USD that has hardly managed to make any gains at the end of Friday, along with a possible consolidation – or just further gains – it makes sense that EUR/JPY should see a pullback higher right from the start. Once we move into the European session – perhaps North America also - I suspect we’ll begin to see some Dollar gains.
…And what about the Aussie? We still haven’t completed the expanded flat – and even then we saw a pullback. This may have been just a long and ragged Wave v that still needs to reach above 0.7316…